From the U.S.-Saudi Arabian Business Council…

U.S. international law firm Baker & McKenzie has acted for Almarai Company on the establishment of a $613.3 million (SR2.3 billion) sukuk (Islamic bond) program and inaugural issuance of a $266.7 million (SR1 billion) sukuk.  The debut Sukuk issuance for Almarai Company, the largest Saudi dairy products company, was privately placed with Saudi investors who were not disclosed. London-based banking group HSBC arranged the issuance of the first sukuk.



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